Why you Need a Broker When Buying Playa Del Carmen for Sale Homes and Condos
When people ask us the inevitable “why do I need a broker?” when buying Playa Del Carmen for sale homes and condos. Our answer is simple—guidance and protection.
Navigating the difficult world of real estate is complex enough on your home turf. But, when you add a new country, different language and different building standards it becomes more than Americans and Canadians can—or should—handle on their own!
The Simple Problem – You Don’t Know What you Don’t Know
There is one simple problem that requires the solution of an experienced real estate broker with Playa Del Carmen for sale homes, and it is this—you don’t know what you don’t know.
And what you don’t know can—and very likely might—hurt you.
Buying Playa Del Carmen for sale homes and condos is a serious investment. Whether it is your primary home, vacation home or investment property, this is a large investment that can offer you worry-free vacations and financial freedom…or a financial sinkhole.
Why You NEED an Experienced Broker – Protection & Knowledge
Protection and knowledge is critical when purchasing real estate in Mexico, specifically Playa Del Carmen for sale homes. But, in order to be protected and knowledgeable—you need to work with the best of the best.
There are a number of issues with Playa Del Carmen for sale homes, caused by the matrix of foreign-investment rules and customs in Mexico and Playa del Carmen. These cause a number of issues to be aware of, the primary ones being:
- Realtor Licensing
In the United States and Canada Realtors are very closely governed by licensing requirements and real estate board rules. In Mexico this isn’t the case. There isn’t a licensing board that requires initial or on-going training, which creates a patchwork of agents of varying knowledge. This means that you need a well-trained, experienced team when buying Playa Del Carmen for sale homes.
- Transactional Relationships
Many Realtors and builders here, selling Playa Del Carmen for sale homes, focus on selling one real estate project at a time. This creates a transactional real estate relationship that is highly focused on closing the sale. At American Development we focus on the long-term. We want not only your business time and time again—we also want your referrals. In fact over 80% of our business comes from referrals from past clients who we have gone the extra mile for.
- Legal Rules
The framework of not only real estate rules, but also how they relate to foreign investment is too complex an issue to address here. But, know that there are three bodies involved in the process: a Realtor, a lawyer and a notary. In order to safely navigate the legal process you need to construct an exceptional and uncompromised team. Luckily, we have already done this for you. Our real estate attorney is not only an experienced real estate attorney, but also a certified English-Spanish translator and an international tax attorney.
- Proof of Legality
Having crackerjack representation ensures that you get proof of legality—which is an absolute must-have for foreign investors. Without, you have no legal claim to the property that you have paid for. Our team ensures that you have the three necessary elements of legality: right of occupation, title and fee simple titles.
- Conflict of Interest
Unfortunately, in many cases of buying Playa Del Carmen for sale homes and condos, the legal team will represent both the developer and the Buyer. This conflict of interest can be extremely dangerous for the homebuyer that is buying Playa Del Carmen for sale property—as the lawyer doesn’t solely have the homebuyers best interests in mind. Here at American Development we use a real estate attorney who represents only us and our clients—and never the developer.
- Issues of Transparency & Risk: Due Diligence
Real estate in Playa del Carmen often lacks transparency. To give just one example, there have been developers in the past who sell units without fully-funding the project. At American Development, we ask to see that there is money in escrow for the completion of the project before we will allow our customers to invest. This type of due diligence is absolutely required to safeguard you when buying Playa Del Carmen for sale property.
There is no MLS system in Mexico or Playa del Carmen. What this means to foreign investors is that you need a team that has a built-in, successful marketing platform, and a knowledgeable brokerage that has their finger on the pulse of buying Playa Del Carmen for sale homes and condos. Without this, they are just selling you what they have available at the moment—and not the best property for your needs.
Language is always an issue when investing in a foreign country, and it can be a pervasive problem throughout the process. First, you need excellent communication with your Realtor, and then you need language representation throughout the legal process—because even the slightest mistranslation of words can turn the safety of your investment upside down.
The above issues involved with buying Playa Del Carmen for sale property and homes are only some of the things that you don’t know that you don’t know. This is why working with a Realtor or Broker from American Development is not a ‘nice to have’—but an actual need.
To learn more things that you don’t know that you don’t know, give us a call today.